By default, Excel does not convert link text into clickable versions.
Take a look at an example table with not so friendly links. In column D, we have a link to the google image search that is not only long, but also impossible to click. In column C, we will prepare a friendly, active link.
In cell B2 I type the formula =HYPERLINK. A formula needs only one argument, the text you want to turn into a link. In our case it is in cell C2. An optional argument is the friendly name for the link. I will use the name from cell A2 as the friendly name. Finally, my formula looks like this: =HYPERLINK(D2; B2). Its effect in Excel is shown below.
In column B I have clickable links with friendly names. I can now hide the long link column to have a clearer table.